In a newly released memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he appointed the unorthodox economist Varoufakis as the treasury head mainly due to his international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis had a personal agenda that involved promoting Varoufakis's publications and experimenting with his own economic models using Greece rather than truly advocating the country's economic stability.
He noted that the talks to stave off insolvency were “not just a method to secure a better deal for the country. They became a test, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, the country came perilously close to exiting the single currency area.
On the line lay both the country's destiny and those harsh austerity policies demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by those against the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
